Great Atlantic Resources Closes Share for Debt Financing __________________________________________________________________________________ A PROJECT GENERATOR - FOCUSED ON ANTIMONY, TUNGSTEN AND GOLD
__________________________________________________________________________________ A PROJECT GENERATOR - FOCUSED ON ANTIMONY, TUNGSTEN AND GOLD (TSXV : GR)
VANCOUVER, British Columbia – May 13, 2013 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce that it has closed a share for debt financing announced May 3, 2013. The share for debt filing has paid for accumulated service fees of $178,841. Approximately 3,576,827 shares in the capital stock of the Company will be issued to pay outstanding payables including the recently completed CARDS survey (Computer Aided Resource Detection System) technology, employed to further define potential Tungsten exploration targets on the South Quarry property in Newfoundland. Also included is payment for the LIDAR technology employed on the Company`s West Gore Antimony and Gold property located in Nova Scotia. LIDAR (Light Detection and Ranging) is an optical remote sensing technology that measures properties of scattered light to find range and/or other information of a distant target. This technology is used to produce highly accurate terrain elevation data in an unprecedented turnaround time. Specially modified survey aircraft are employed to carry multiple LIDAR sensors over a specified territory (claims) to gather accurate information. The shares for debt will also cover an annual option payment due on the Christmas Island Gold and Graphite property in Nova Scotia and for drilling contractor services.
The shares issued for stock will be subject to a four month hold period and Great Atlantic management will retain voting rights over the issued stock.
About Great Atlantic Resources Corp:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. Recently New Brunswick was announced as the number one mining region in the world. Great Atlantic has assembled the A-team of explorers in the region with decades of experience and known track records for discoveries.
Currently the company is propelling forward under a project generation model with a focus on Antimony, Tungsten and Gold.
On Behalf of the board of directors
“Chris Anderson”
Christopher R Anderson, CEO – President 604 488-3900
Read about Great Atlantic Resources Corp.: http://greatatlanticresources.com/corporate-overview/
Read Disclaimer: http://greatatlanticresources.com/legal-disclaimer/
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